Bank of America Mortgage
Existing BofA customers wanting a one-stop shop for purchase, refinance, or HELOC.
Rate shoppers who need transparent, instantly comparable published rates before engaging.
Bank of America's mortgage page is a gateway, not a rate sheet — every figure displayed is personalized and ZIP-dependent, which makes direct comparison nearly impossible without going through their intake funnel. With the Fed Funds Rate currently at 3.63%, the broader mortgage market is pricing 30-year conforming loans well above that level — national averages for 30-year fixed rates have been hovering in a range meaningfully above 6%, reflecting the persistent spread between short-term policy rates and long-term mortgage yields. BofA's advertised rates assume a 740+ credit score; borrowers below that threshold should expect materially higher quotes. The HELOC product is tied to WSJ Prime Rate, which closely tracks Fed Funds — meaning HELOC holders face continued rate sensitivity if monetary policy shifts. The 6-month introductory rate on the HELOC and discounts for autopay and a $60,000 initial draw are genuine levers to reduce cost, but the actual numbers are state-specific and not visible here. SwitchWize cannot rank BofA against competitors on rate alone from this page. Visit our live rate table to compare real, timestamped mortgage rates before starting any application.
Request a Loan Estimate (federal form) to compare the full APR, not just the rate. Confirm all origination fees and closing costs.
Jun 13, 2026
SwitchWize Research Desk · methodology
- No monthly maintenance fee
- FDIC insured up to $250,000
| Loan Type | APR |
|---|---|
| 30-Year Fixed | 6.58% |
| 15-Year Fixed | 5.86% |
| 5/6 ARM | 6.28% |
Start online at bankofamerica.com to prequalify or apply — HELOC applications take about 15 minutes. For a mortgage or refinance, enter your purchase price, down payment, and ZIP to see personalized rates. You can also call 866.466.0979 or schedule an in-branch appointment.
Bank of America's mortgage page is a gateway, not a rate sheet — every figure displayed is personalized and ZIP-dependent, which makes direct comparison nearly impossible without going through their intake funnel. With the Fed Funds Rate currently at 3.63%, the broader mortgage market is pricing 30-year conforming loans well above that level — national averages for 30-year fixed rates have been hovering in a range meaningfully above 6%, reflecting the persistent spread between short-term policy rates and long-term mortgage yields. BofA's advertised rates assume a 740+ credit score; borrowers below that threshold should expect materially higher quotes. The HELOC product is tied to WSJ Prime Rate, which closely tracks Fed Funds — meaning HELOC holders face continued rate sensitivity if monetary policy shifts. The 6-month introductory rate on the HELOC and discounts for autopay and a $60,000 initial draw are genuine levers to reduce cost, but the actual numbers are state-specific and not visible here. SwitchWize cannot rank BofA against competitors on rate alone from this page. Visit our live rate table to compare real, timestamped mortgage rates before starting any application.
What is the difference between a mortgage interest rate and APR?
The interest rate is what the lender charges to borrow the principal. APR (annual percentage rate) folds in lender fees, origination charges, and points into one comparable number. Always compare APR when shopping lenders — a low rate with high fees can cost more than a slightly higher rate with lower fees.
What credit score do I need to qualify?
Most conventional mortgages require a minimum 620 FICO score; FHA loans allow as low as 580 with 3.5% down. Higher scores unlock lower rates — a 40-point difference can shift your rate by 0.25–0.50%.
How long does mortgage underwriting take?
Most purchases close in 30–45 days from application; refinances typically take 30–60 days. A pre-approval (full credit and income check) can be done in 1–3 business days at most lenders.
Rates are sourced from Bankrate and verified by SwitchWize. SwitchWize may earn a referral fee when you click through to a partner. Content is for informational purposes only and does not constitute financial advice. Verify current rates directly with the institution before opening an account.